Loading...
20846 2014008498 Received: 2/13/2014 3:21:44 PM Recorded: 02/13/2014 03:33:58 PM Filed& Recorded in Official Records of Larry Crane, PULASKI COUNTY CIRCUIT/COUNTY CLERK 1 ORDINANCE NO. 20,846 Fees$25.00 2 3 AN ORDINANCE TO REDUCE THE LEVY OF THE ASSESSMENT OF 4 BENEFITS TO BE RECEIVED BY OWNERS OF EACH OF THE 5 SEVERAL BLOCKS, LOTS AND PARCELS OF LAND WITHIN THE ST. 6 CHARLES MUNICIPAL LIGHTING IMPROVEMENT DISTRICT NO. 1 7 OF LITTLE ROCK,ARKANSAS; TO DECLARE AN EMERGENCY; AND 8 FOR OTHER PURPOSES. a, 9 10 WHEREAS, the property holders owning a majority in assessed value of property situated in the St. 11 Charles Lighting Improvement District No. 1 of Little Rock,Arkansas(the"District")petitioned the Board 12 of Directors of the City of Little Rock,Arkansas,to form a Municipal Improvement District to be organized 13 for the purpose of constructing within the District improvements described in such petition,and to maintain, 14 repair and operate such new or existing facilities; said purposes to be accomplished in the manner and of 15 the materials that Commissioners of the District shall deem to be in the best interest of the District,and the 16 cost thereof to be assessed upon the real property of the District according to the benefits received; and, 17 WHEREAS,the Board of Directors of the City of Little Rock, Arkansas, has established the District 18 to accomplish the above purposes by passing Little Rock, Ark., Ordinance No. 17,853 (October 20, 1998) 19 ("LRO No. "); and, 20 WHEREAS,the Board of Directors of the City after publication of notice as required by law, met as 21 a board of equalization and heard all appeals against the assessments filed with the City Clerk on October 22 27, 1998, and equalized and levied an annual assessment of 7.7% on the same, by passage of LRO No. 23 17,873 (November 17, 1998); and thereafter,the Board of Directors of the City after publication of notice 24 as required by law,met as a board of equalization and heard all appeals against the reassessment of benefits 25 filed with the City Clerk on January 5, 2007 ("the Assessment of Benefits"), and equalized and levied an 26 annual assessment of 8.502% on the same, by passage of LRO 19,709(February 6, 2007); and, 27 WHEREAS, the Assessed Benefits of the District amount to Two Million, Two Hundred Twenty- 28 Nine Thousand, Four Hundred Eighty-Three Dollars ($2,229,483.00), of which Three Hundred Seventy 29 Thousand, One Hundred Twenty-Three Dollars ($370,123.00) are assessed benefits attributable to the 30 acquisition and construction of the District's improvements, and One Million, Eight Hundred Fifty-Nine 31 Thousand,Three Hundred Sixty Dollars($1,859,360.00)are assessed benefits attributable to the operation 32 and maintenance thereof; and, [Page 1 of 31 1 WHEREAS, the bonds issued by the District to construct the improvements have been fully retired, 2 the District no longer requires a levy of assessments for bond payments,and the District will hereafter only 3 require revenues for the operation and maintenance thereof; and, 4 WHEREAS, the Board of Directors of the City now desires, at the request of the District, to reduce 5 the annual rate of levy of the Assessment of Benefits, to provide funds for the operation and maintenance 6 of the District's improvements only; 7 NOW,THEREFORE,BE IT ORDAINED BY THE BOARD OF DIRECTORS OF THE CITY 8 OF LITTLE ROCK,ARKANSAS: 9 Section 1. From each of the tracts 7.10%of the Assessment of Benefits shall be collected in the year 10 2014 and annually thereafter. 11 Section 2. This ordinance shall have all the force of a judgment to be paid by the real property in the 12 District in proportion to the amount of the Assessed Benefits as established pursuant to LRO 19,709(Feb- 13 ruary 6,2007),and to be paid in annual installments as set forth in Section 1 above, and the assessments so 14 levied shall be a lien upon the real property in the District from the time of the date of this ordinance and 15 shall be entitled to preference overall all demands, executions, encumbrances, or liens whatsoever created, 16 and continue until all such assessments, with any penalty or cost that my accrue thereon, shall have been 17 paid. 18 Section 5. Severability. In the event any section, subsection, subdivision, paragraph, subparagraph, 19 item, sentence, clause, phrase, or word of this ordinance is declared or adjudged to be invalid or unconsti- 20 tutional, such declaration or adjudication shall not affect the remaining portions of this ordinance which 21 shall remain in full force and effect as if the portion so declared or adjudged invalid or unconstitutional was 22 not originally a part of this ordinance. 23 Section 6. Repealer. All ordinances and resolutions inconsistent with this ordinance are hereby repealed to the 24 extent of such inconsistency. 25 Section 7. Emergency Clause. There is an immediate need to reduce the levy of assessments in order 26 to reduce the burden on the property owners of the District, and such reduction is found to be necessary to 27 protect the public health, safety and welfare; and emergency is, therefore, declared to exist and this ordi- 28 nance shall be in full force and effect from and after the date of its passage. 29 PASSED: February 11,2014 30 ATTE • _ APPROVED: 31 DO1 ,. kLTT 33 Susan ngle, City Clerk Elora Wright,Vice-1(ayor 34 �J 35 [Page 2 of 31 1 APPROVED AS TO LEGAL FORM: 2 3 U,(- e--- 4 Thomas M. Carpenter,city Attorney 5 // 6 // 7 // 8 // 9 // 10 // 11 // 12 // 13 // 14 // 15 // 16 // 17 // 18 // 19 // 20 // 21 // 22 // 23 // 24 // 25 // 26 // 27 // 28 // 29 // 30 // 31 // 32 // 33 // 34 // 35 // Page 3 of 31 I